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From: Dave Smith
Does anyone have advice for a poor soul with an IP in a regional NSW country town.
Here is the story...
Man inherits residential property, valued 70-80K - market is very, very poor - due to industry lay offs etc - cannot sell even for say 60K - has been trying to get an offer with 2 separate agents for 6 months - any offer
However... currently tenanted $140pw
What does he do?? Sell for whatever he can get, Continue to rent and borrow against the equity,
Has anyone got advice or similar experience - Put your thinking caps on for a creative solution
This scenario is relevant for any properties in a poor location, whether it be rural, main road, or close to something undesirable (cemetery etc)
Does anyone have advice for a poor soul with an IP in a regional NSW country town.
Here is the story...
Man inherits residential property, valued 70-80K - market is very, very poor - due to industry lay offs etc - cannot sell even for say 60K - has been trying to get an offer with 2 separate agents for 6 months - any offer
However... currently tenanted $140pw
What does he do?? Sell for whatever he can get, Continue to rent and borrow against the equity,
Has anyone got advice or similar experience - Put your thinking caps on for a creative solution
This scenario is relevant for any properties in a poor location, whether it be rural, main road, or close to something undesirable (cemetery etc)
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